Listed by CENTURY 21 Lee-Mac Realty
$2,100,000
7342 N Alger Road
Details
Property Type Retail
Sub Type Storefront
Square Footage 15,480
Net Rentable (SqFt) 15,480
Units 11
Cap Rate 8.34%
NOI $175,169
Occupancy 75%
Tenancy Multi
Brand/Tenant AT&T, Wild Bills Tobacco
Lease Type Modified
Remaining Term 2
Pro-Forma Cap Rate 11.06%
Pro-Forma NOI $232,200
Year Renovated 2018
Buildings 3
Stories 1
Lot Size (SqFt) 82,764
Zoning Commercial
Tenant Credit No Credit Rating
Ownership Private
Retail | 8.34% CAP | 15,480 SqFt
Marketing description
N. on Wright Avenue from Superior.
Welcome to an exceptional investment opportunity – the SCA Plaza! This prime property boasts a strategic location directly in front of the bustling Meijer department store, ensuring a steady flow of foot traffic and high visibility for the 11 units within. With over 15,000 square feet of versatile space, SCA Plaza provides an ideal canvas for a range of businesses, from retail shops and eateries to service providers and offices. The well-designed layout of the plaza ensures each unit benefits from maximum exposure, contributing to the overall success of the businesses within. The convenience of being adjacent to Meijer, a renowned and established retail giant, adds unparalleled value to this property. Patrons of the department store are likely to explore the offerings in Meijer Plaza, creating a symbiotic relationship that can significantly enhance the success of businesses operating here. This is not just a property; it's a strategic investment poised for success. The Meijer Plaza offers investors the chance to tap into a vibrant and thriving commercial hub. The local community's needs are met with the plaza's diverse range of units, ensuring a steady stream of customers from various demographics.
Investment highlights
15,480Sq’ of rent space
In the heart of the shopping area in historic Alma
Solid, long term tenants
Listing Contacts
Listed by CENTURY 21 Lee-Mac Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$175,169.00
$14,597.42/mo
Valuation Metrics
0
DSCR
8.34%
Cap Rate
8.34%
ROI
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